Our goal is to partner with our clients, craft custom solutions, and drive collaborative performance to deliver exceptional value. - Will Morgan, President of Monticello Consulting Group
Table of Contents 3 Introduction 4 Our Services 6 Who We Are 7 Our Mission Value Creation Superior Execution Uncompromising Integrity 10 Recent Engagements & Showcased Services Managing the Next Wave of Relocation Strategies Testing Governance Agile Development Methodology 19 When To Call On Us
Introduction Monticello Consulting Group offers a combination of expertise and proven methodology to drive meaningful bottom-line results for your strategic initiatives. Recognizing that there is no single approach to address the complex issues facing business leaders today, Monticello Consulting will partner with your team to implement solutions that are optimal for your business and to your stakeholders. While working together, we will formulate an engagement which considers your organization s culture and available resources. This approach, combined with our delivery model of assembling a high-impact project team, will yield unparalleled success for your organization and is what differentiates Monticello Consulting from other advisory firms in the marketplace. 5
Our Services With the skills of our highly trained and dedicated team, our firm provides services in: Management Consulting Program & Project Management Location Strategy & Sourcing Testing Governance Big Data Analysis & Reporting Agile Implementation New Business Creation Technology & Conversions Research Our Services 4
Recent engagements include: Testing Governance for Dodd-Frank Real-Time Reporting and other global regulatory regimes, utilizing Agile methodologies Project management and business analysis for US Regulatory Reform (Dodd-Frank), including real-time reporting, mandatory clearing & business conduct rules Post-Merger integration of business processes, technology platforms and organizational functions Project management and business analysis for Basel III controls implementation Legal entity and new product build-outs across the organization, including the front office, middle office, and back office functions Business optimization through location strategy analysis, aligning the organization s global footprint to meet mandated cost structure targets Client Testimonial An undiscovered gem. Monticello provides the best low maintenance, high delivery ratio on the Street. - Director, Global Investment Bank Our Services 5
Who We Are Monticello Consulting Group is a boutique management consulting firm advising clients in the global financial services industry, partnering with them to achieve their vision of excellence. Monticello Consulting was founded in 2004 in Richmond, Virginia, and works with a global portfolio of Fortune 500 clients. Our consultants are seasoned professionals, many with decades of industry knowledge and significant expertise in their chosen areas of practice. Monticello Consulting team members have advised or worked for such global institutions as J.P. Morgan, Bank of America-Merrill Lynch, Citigroup, Bear Stearns, RBS, Credit-Suisse, UBS, DTCC, and MISYS. Will Morgan, the founder and president of Monticello Consulting Group, is an experienced business and implementation manager with over 16 years of consulting experience across several industries. Prior to founding Monticello Consulting, Will worked as a consultant with Accenture and with m.a.partners, a financial services consulting firm in New York City. Will has advised such global clients as JPMorgan, Bank of America-Merrill Lynch, Bear Stearns, AllianceBernstein, Siemens USA, and AT&T. Will received his MBA from the University of Virginia s Darden School of Business and holds a Bachelor of Science degree in electrical engineering from Lehigh University. Who We Are 6
Our Mission Our mission is simple to provide exceptional management consulting services by focusing on three core principles for our clients: value creation, superior execution, and uncompromising integrity. Value Creation Superior Execution Uncompromising Integrity Our Mission 7
Value Creation By focusing on the client s goals and how the client defines value creation, Monticello Consulting plans and executes the engagement by driving these objectives forward. Monticello Consulting has a long track record of client satisfaction and value creation at all levels and throughout all of our engagements, operations and commitments. Superior Execution Monticello Consulting s track record of superior execution is built upon an uncompromising work ethic and focus on the client. Our consultants partner with only one client at a given time, remaining singularly dedicated to your vision and determined to deliver unparalleled value to your initiatives. All of our consultants on the engagement team, from senior managers to associates, will roll up their sleeves and participate in every detail of your project. This hightouch approach to execution is what differentiates Monticello Consulting in the market for advisory services. Uncompromising Integrity All consultants at Monticello Consulting Group commit themselves to the highest ethical and professional conduct and agree to serve in the best interest of the client. We work with the client at the time of engagement contracting, to agree on a mutual understanding of the objectives, scope, and work plan. Our Mission 8
Client Testimonial Monticello was hired to spearhead consolidating the Bank s Equity Derivative franchise onto one front-to-back platform, encompassing dozens of departments and hundreds of stakeholders across many areas of the Bank. The Monticello team created an implementation plan and then systematically administered that plan from a high level with senior management to a detailed level on a trade-by-trade basis - and with hard work and patience, successfully executed on the target date. Monticello is characterized by a will execute, hardnosed approach to resolving significant challenges. I would personally recommend Monticello Consulting services for any project in light of my experiences. - Director, Global Investment Bank Our Mission 9
Recent Engagements & Showcased Services 14
Managing the Next Wave of Relocation Strategies: The Path to Long-Term Profitability & Survival In the last several years, investment banks have faced anemic revenue growth and new, more stringent regulations which cut into trading profits. In response to this challenging economic environment, our banking clients are leveraging business transformation programs that focus on process efficiencies and relocation efforts, both near-shore and off-shore, as key strategies for survival. During the 1990 s and early 2000 s, off-shore initiatives focused mostly on migrating low-skill, non-core operational functions and IT personnel to lower cost regions. The location strategies we are currently helping to implement focus on moving key middle office and specific front office support functions to both near-shore and off-shore locations resulting in tangible cost savings. In the last 5 years, these location strategy initiatives have become more attractive, providing significant benefits and savings through: Lower labor costs abroad An abundance of skilled workers in India and the Asia-Pacific regions Higher staff retention levels in near-shore / domestic locations Lower taxes, along with foreign investment incentives Lower occupancy costs outside the money center banking areas of New York, London, Tokyo, and Hong Kong Recent Engagements & Showcased Services 11
Monticello Consulting has studied these types of business transformation programs and has recommended key success drivers to our clients. These include the use of monitoring tools to track key information (e.g. employment, compensation, and benefits data) and to ascertain that program goals are being met. In one recent engagement, Monticello Consulting partnered on a multi-year transformation program to build a suite of tools which supported the ongoing management of the program. These tools included budget management, headcount and expense reconciliations, and program status reporting. The tool suite developed has been essential in helping our client meet annual cost savings targets, while satisfying budget, audit, and reporting requirements. Monticello Consulting s Business Transformation Offering Monticello Planning & Tracking Tools What-if Analysis Budget Management & Reconciliation Analytically Driven Recommendations Full Audit Capability Flexible & Extendible Design Monticello Consulting Services Data Analysis Efficiency Improvements Process Reengineering Status Reporting Project & Program Management Recent Engagements & Showcased Services 12
Testing Governance: Ensuring Your Quality Program Supports Your Project Portfolio There are many challenges to overcome when building quality into the delivery of enterprise-wide strategic initiatives, such as system conversions and new product rollouts. At Monticello Consulting, we have developed and refined a framework to ensure that quality is integral to the program from the outset, starting with the generation of high quality business requirements that are traced through to completion in our comprehensive test plans. Once testing is initiated, our test governance team supports all essential components of testing. Whether in an Agile or a Waterfall program, our framework incorporates information feedback to achieve ever-higher levels of quality in the end product. Our consultants understand that for organizations to survive they must adapt to the disruptive forces, both internal and external, that are effecting continuous change to their operations. The challenge today, for many of our clients, is to not lose sight of the importance of quality in the face of these rapid changes. At Monticello Consulting, we view quality as an integral part of the organizational mindset as important as a particular set of tools or testing routines. In one recent engagement, in response to a mandate put forth by the Federal Reserve Bank of New York to increase market transparency, Monticello Consulting implemented testing governance for a top broker-dealer to report all OTC derivatives to the DTCC s new centralized reporting platform. OTC notional calculations were transitioned to the DTCC s industry standard formulae, and Monticello Consulting oversaw the impact testing for the broker-dealer s credit risk, collateral management, and regulatory reporting groups. We were retained by our client for this project not only for our focus on quality and our expertise in test governance, but also for the deep understanding our consultants have for the client s business and the industry forces driving change. In the banking sector, much of the new regulations that stem from the financial crisis of 2008 including Part 43/45 of Dodd-Frank Title VII require registered swap dealers to conduct coordinated testing across all product areas. Several product groups in scope for testing represented systemic risk and were at the center of the recent crisis. In 2013, Monticello Consulting remains actively engaged in this industry-wide effort by managing the test governance for clients with compliance obligations to the global regulatory regimes for reporting complex and potentially risky derivatives. Recent Engagements & Showcased Services 13
Cease dependence on inspection to achieve quality. Eliminate the need for massive inspection by building quality into the product in the first place. - W. Edwards Deming, Quality Management Pioneer Recent Engagements & Showcased Services 14
Monticello Consulting s Test Governance Offering Monticello Planning & Tracking Tools Test Management Software Requirements Traceability Reporting Test Schedule Management Tool Advanced Test Metrics and Analytics Defect Tracking Database Monticello Consulting Services Testing Governance Implementation Test Management Defect Management Environments Management Requirements Management Recent Engagements & Showcased Services 15
Client Testimonial With their solid reputation for implementing robust testing governance and their business acumen in Dodd-Frank regulations, we brought in Monticello Consulting to help with our real time reporting of OTC derivatives. The Monticello team was extremely focused on the timely delivery of the program in the face of aggressive regulatory deadlines, and their managers demonstrated a commitment to quality throughout. We were impressed with their understanding of the real-time reporting requirements, coupled with their hands-on approach. We intend to leverage Monticello again as we work to implement additional Title VII provisions. - Managing Director, Global Banking Client Recent Engagements & Showcased Services 16
Agile Development Methodology: Accelerating Product Time-to-Market and Quality Improvement When our clients choose to adopt the principles of the Agile Manifesto, Monticello Consulting supports their organizations in transitioning their teams, processes, and tools to harness the values and benefits of the Agile Development Methodology. While holding true to the Scrum principles, we take a pragmatic approach, listening to our clients needs and concerns to create a framework and a transition strategy to move to Agile. One approach that our consultants frequently leverage is a staged implementation. Monticello Consulting believes this approach is in the spirit of Agile and helps to reduce risk, maximize benefits, and secure a high ROI for Agile implementation. Monticello Agile Methodology Values: Pragmatic Agile Development Striking the right balance for your organization Teamwork Interactive and collaborative engagement Time-to-Market Iterative and incremental development Scalable Framework Optimal management of speed, cost, quality, and scope Performance Metrics Proof of value and benefits Big Picture Understanding impact on the entire business Recent Engagements & Showcased Services 17
Monticello Consulting s Agile Offering Monticello Consulting research has shown that organizations transitioning from Waterfall to Agile development may experience a drop in productivity during the transitional phase, placing the Agile implementation at risk of failure. During this critical transition period, our Agile coaches step in and ensure a successful implementation. Our Agile coaches are Certified Scrum Masters (CSMs) with several years of real-world Agile experience in the banking and healthcare industries. Monticello Consulting is currently engaged in providing Agile training services to our Fortune 500 clients, helping to instill the Agile Methodology in the technology and change management areas of their organizations. In the banking sector, Monticello Consulting is currently engaged in a multiple-year enterprise platform rollout using Agile. Our clients recognize the added value Monticello Consulting brings to the table and regard us as an innovative leader in the advisory market for Agile services. Monticello Differentiators Certified ScrumMasters (CSM) with practical experience and skills Experience in implementing Agile Scrum in banking & healthcare Industries Experience in implementing corporate Application Lifecycle Management (ALM) tools to support Agile Methodology Continuous Improvement, Lean Six Sigma Black Belts Monticello Consulting Services Custom on-site training and transition planning from Certified Scrum Masters (CSM) Design & setup of a program management office (PMO) aligned to your business goals and Agile implementation Agile tool development and implementation of packaged Agile software solutions Recent Engagements & Showcased Services 18
When To Call On Us When To Call On Us 19
You are aware of impending market or regulatory change and seek experienced partners who continually monitor key trends in the financial markets You have decided to embark on a change initiative and need a strategic partner to assist in carrying it through to completion Competitive pressures are forcing you to rethink your market strategy Your clients are seeking new products and/or superior service levels that you cannot offer today Your business is seeking new growth but is limited by platform constraints Pressures are looming for aligning the organization s global footprint to meet mandated cost reduction targets Your organization seeks to improve timeto-market, resource efficiency, and quality by implementing Agile methodologies Other internal change drivers such as technology, self-identified audit points and control gaps require the perspective of an experienced outside advisor When To Call On Us 20
Contact Monticello Consulting today to discuss how we can help with your next change initiative. www.monticellocg.com
Monticello Consulting Group Virginia Headquarters P.O. Box 28037 Richmond, VA 23228 New York Office 35 W 38th Street 2nd Floor, Suite 2S New York, NY 10018 Contact will.morgan@monticellocg.com www.monticellocg.com Monticello Consulting Group, Inc.